by Dan Gibby | May 8, 2022 | ETF Past Letters
The broader markets closed negative – after wild up and down swings around the FOMC announcement. The markets rallied robustly into the close on Wednesday after Powell said a 75-basis point hike was off the table. That temporary bullish close was dashed the...
by Dan Gibby | May 1, 2022 | ETF Past Letters
The broader markets closed negative – and at the lows — last week, with the Nasdaq down 4.2%, its worse month since 2008. With the Fed having the FOMC meeting this week, investors continue to be worried about rising inflation and interest rates, supply...
by Dan Gibby | Apr 24, 2022 | ETF Past Letters
The broader markets closed negative for the third consecutive week, with QQQ down over 2% again. The Dow had its worse day since 2020. Bond yields rose for the third consecutive week – now approaching 3% — on increased concerns for more rapid interest...
by Dan Gibby | Apr 16, 2022 | ETF Past Letters
The broader markets closed negative for the second consecutive week, with QQQ and SPY both down over 2%. March CPI was 8.5% above its level a year earlier, PPI up 11.2%, confirming what we already knew. Fuel costs are heavily restraining discretionary spending...
by Dan Gibby | Apr 10, 2022 | ETF Past Letters
The broader markets closed negative on the week, with QQQ and IWM the weakest, down about 4%. The Nasdaq is still the most overvalued at 27.5 times earnings, nearly 10 points higher than the 17.7 times of the Dow. IWM is the worse, trading at 38.8 times...
by Dan Gibby | Apr 3, 2022 | ETF Past Letters
The broader markets got a well-deserved retracement but still closed the weak mostly positive. Transports, however, had an ugly week. With the rapid rise in the yield on the two-year note (the one most sensitive to shifts in Fed policy), the 2- and 10-year...
